Simcoe, Ontario – Diane Finley, MP for Haldimand-Norfolk, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), today announced that new partnerships between post-secondary institutions and businesses will be created through a one-year extension to the Applied Research and Commercialization initiative.
The initiative is designed to help small businesses access the research capacity of post-secondary institutions for activities such as applied research, engineering design, technology development, product testing, and certification. Since its launch as a two-year pilot in 2010, the initiative has supported 24 colleges, universities and polytechnics across southern Ontario to work with more than 300 businesses to bring new products to the marketplace faster.
The one-year extension to the initiative – with funding of up to $15 million – will enable the 24 post-secondary institutions to apply for additional support to partner with more businesses, while current projects are being completed and evaluated.
“Our government created the Applied Research and Commercialization initiative to allow businesses to leverage the research and development strengths of our post-secondary institutions in southern Ontario,” said MP Diane Finley. “This extension is forging new bonds between researchers and the business community, which will result in an economy that is more resilient, diversified and competitive on the world stage.”
To learn more about the post-secondary institutions participating in the initiative and current partnership projects underway with businesses, please visit the FedDev Ontario website at www.feddevontario.gc.ca.
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For more information, contact:
Office of the Hon. Diane Finley